Fitch Ratings expects no direct impact from US tariffs on the credit ratings of Gulf Cooperation Council (GCC) countries, given the decline in their exports to the United States. According to the agency, the main risk is the indirect impact of the decline in global demand and oil prices. A $10 drop in oil prices could lead to a significant decline in fiscal revenues.
Bahrain is considered the most affected, given the high price of oil, which achieves fiscal breakeven, despite only 5 percent of its exports going to the United States. Saudi Arabia and Oman are more resilient, while Qatar, Abu Dhabi, and Kuwait have significant reserves.
Source (Al Arabiya.net, edited)
